Daily resistance at 28.39. It's been the high on three days out of the last six.
Reached 29.30 just after the open. Shorted it at 28.05, right on the 5min 20ma.
A kind of 123 trade although a tenuous one. More like at 50ma bounce on the 5min chart.
Took some profit on a third fairly quickly at 27.90 as that was one R.
Had to hold for a long time after that for some gratification after the price stalled between the 20 and 50mas. My stop was placed at 28.10 for the last two thirds which would have made me the smallest of profit on the trade if it got triggered.
Set T2 at 27.80 as that is near the low of the day so far.
Took out a little more at 27.82 after a huge volume spike sent the price up about 20cents and to within one cent of my stop and dropped back a little.
Should have left it alone as I had set my stop at the right place and the price came down to make a new low of the day.
Exited last at the 30min50ma and just above 15min 200ma at 27.64
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-04-17 10:38:32 | LOCO | sell | $28.050 | short |
2015-04-17 10:38:35 | LOCO | sell | $28.050 | short |
2015-04-17 10:38:37 | LOCO | sell | $28.050 | short |
2015-04-17 11:09:40 | LOCO | buy | $27.900 | short |
2015-04-17 13:34:05 | LOCO | buy | $27.760 | short |
2015-04-17 14:03:06 | LOCO | buy | $27.820 | short |
2015-04-17 14:53:11 | LOCO | buy | $27.640 | 0 |
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